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About Taylor&Emmet LLP

Taylor&Emmet LLP is one of the leading and most successful law firms in the South Yorkshire region, a position it has held for nearly 150 years.

This success has been achieved by delivering the highest quality legal advice to business and private clients, many of whom have remained with the firm for generations.

To maintain this enviable position, we have invested significantly in the business in recent years, in terms of our geographic location, number of offices, technology and the quality and ability of our people.

Legal services for your business

﻿We’re here to look after your business interests. Integrity, professionalism and the highest standards of client care form the bedrock of our services. We have the breadth of expertise and experience to help you achieve the right results.

We become a seamless part of your team by building a rapport with key staff , learning about your operation and being transparent in our work. Developing a partnership based on trust allows us to deliver cost eff ective, honest and legal advice services that will protect and enhance your organisation. Rely on us, when it matters the most.

Taylor&Emmet in the media

Being a full-service law firm means that we can tailor our legal services for sectors. This allows us to be the go-to for all your legal requirements. For more information on how we can advice you visit our key sector pages.

Our offices or Get in touch

We have been consistently recognised by The Legal 500 guide to the legal profession as one of the leading law firms in the South Yorkshire region and throughout this website you will find evidence of the references made to Taylor&Emmet, drawn from the 2012 and 2013 editions.

A different approach

Whether you are a business or an individual seeking legal advice for the very first time, our tried and tested approach to client service remains the same.

Inheritance tax exemptions - applying both on death and in lifetime

Nil Rate Band - Although strictly speaking not an exemption as such, from 5 April 2009 the first £325,000 worth of chargeable transfers, (for example a person's estate at death) is taxable at nil per cent and so, effectively, is free of tax. This is called the "Nil Rate Band". Since October 2007, the unused Nil Rate Band of one spouse or civil partner can now be transferred on death to the survivor.

Spouse/Civil Partners Exemption - Transfers between husband and wife, or between civil partners, are exempt from Inheritance Tax ("IHT"). This is without limit except in the case where one spouse or partner is UK domiciled and the other is not. In that case the exemption is limited to £55,000. To qualify the couple must be legally married or have registered a civil partnership.

Gifts to Charities - All gifts to UK Registered Charities are exempt from IHT.

Gifts to Political Parties - Without limit these are exempt from IHT. The Political Party must have at least one Member of Parliament for it to qualify.

Gifts for Public Benefit/National Purposes/Gifts to Organisations and of Standard Items of Public Importance - can be exempt. This is a specialist topic. Please come back to us if advice is needed on this area.

Gifts for the maintenance of family - Any gift for the maintenance of a child who is either under 18, over 18 but in full time education or training, or is dependent upon you because he is physically or mentally disabled, will be exempt from IHT. The gift must be reasonable for the child's needs.

Lifetime exemptions

Potentially Exempt Transfers - Unlimited amounts can be given to individuals and these will be exempt provided the donor survives the gift by seven years. Taper relief, reducing the amount of tax payable, may be available if the donor does not survive the full seven years. The donor must not ¡§reserve a benefit¡¨. This means that he must not continue to benefit from the item given away. If he does then he will need to pay full market rent for any occupation or use if a gift with reservation is to be avoided.

Annual Exemption - An individual can give away up to £3,000 in a year free of IHT. He does not have to survive seven years for the gift to be exempt. If he has not used his exemption from the previous year, then it can be carried forward so that the current year exemption is increased to £6,000, but any unused exemption can only be carried forward one year.

Small Gifts - Up to £250 in any tax year can be given to any number of individuals, but such gifts are only exempt if the total given to any one person in any tax year is not more than £250.Gifts in consideration of Marriage or Civil Partnership- You can make the following gifts free of Inheritance Tax on a person getting married or entering into a civil partnership:

Wills, Probate, Tax and Trusts

£5,000 if you are a parent.£2,500 if you are a grandparent.£1,000 in any other case.

To qualify, the gift must be made on or shortly before the marriage or registration, to one or both parties, and exemption only becomes fully effective when the marriage or registration takes place.

Normal expenditure out of income - an individual can make regular gifts free of IHT provided these are made out of income and leave you with sufficient income to maintain your usual standard of living. This can be a very valuable exemption and is often overlooked, but you should take advice before making the first gift to ensure that you qualify.

Reliefs

These may reduce the value of the gift/transfer for IHT purposes by either 50% or 100% - 100% relief effectively makes the assets exempt from IHT.

If assets are used in the business but owned outside the business by a proprietor or shareholder, or by a trust in which he is a life tenant, then 50% BPR will usually be available.

Agricultural Property Relief - Agricultural land, together with farm houses, cottages and other farm buildings of "a character appropriate" to the agricultural land may receive Agricultural Property Relief ("APR") either at 100%, and so, in effect be exempt from IHT, or at 50%.

There are complex rules associated with both of these reliefs, however, so it is essential that you take advice early to ensure that you qualify.

If you are interested in understanding how Taylor&Emmet can help you with wills, probate and estate disputes then please contact:

Partner - Wills & Probate

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Why choose Taylor&Emmet?

"My sincere thanks to Richard King for the sensitive way he handled what could have been a difficult situation."

Probate client, Sheffield

"Nichola was very helpful with me due to my disability thanks"

Powers of attorney client, Sheffield

"It was the friendly atmosphere at meetings which made one feel relaxed."

Probate client, Sheffield

It was a pleasure meeting you, it is reassuring that everything is dealt with promptly, and in such a professional manner. You have restored my faith in your profession. You do remind me of a very good solicitor (Mr Fleming) I was going through a bad patch in the 1960s. Prompt/Professional.
Reason being, My son and I have not had the best of experiences lately. That?s why I asked my daughter-in-law for a recommendation for a firm in Sheffield.